Opera (NASDAQ:OPRA) Trading 5.1% Higher – Time to Buy?

Opera Limited Sponsored ADR (NASDAQ:OPRA)’s share price rose 5.1% during mid-day trading on Tuesday . The stock traded as high as $20.55 and last traded at $20.51. 442,715 shares traded hands during trading, an increase of 34% from the average session volume of 329,735 shares. The stock had previously closed at $19.51.

Wall Street Analyst Weigh In

OPRA has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Opera in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Opera from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Zacks Research lowered shares of Opera from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Opera has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

Opera Stock Down 1.6%

The company has a 50 day moving average of $19.03 and a 200 day moving average of $16.50. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 15.54 and a beta of 1.32.

Opera Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a dividend yield of 407.0%. Opera’s dividend payout ratio is currently 61.90%.

Insider Buying and Selling at Opera

In other news, CEO Lin Song sold 44,400 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $18.52, for a total transaction of $822,288.00. Following the transaction, the chief executive officer directly owned 120,846 shares in the company, valued at $2,238,067.92. This represents a 26.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 84.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Opera

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Opera by 10.4% during the 2nd quarter. GAMMA Investing LLC now owns 6,904 shares of the company’s stock valued at $137,000 after purchasing an additional 652 shares in the last quarter. Harvey Capital Management Inc. lifted its holdings in Opera by 0.9% in the 4th quarter. Harvey Capital Management Inc. now owns 100,950 shares of the company’s stock worth $1,429,000 after buying an additional 925 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Opera by 459.5% in the 1st quarter. Parallel Advisors LLC now owns 3,038 shares of the company’s stock worth $43,000 after buying an additional 2,495 shares in the last quarter. State of Tennessee Department of Treasury purchased a new position in Opera in the 2nd quarter valued at about $83,000. Finally, Handelsbanken Fonder AB boosted its position in Opera by 20.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 30,300 shares of the company’s stock valued at $601,000 after buying an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 10.21% of the company’s stock.

About Opera

Opera Limited (NASDAQ: OPRA) is a global software and internet services company best known for its cross-platform web browsers, including the flagship Opera Browser, Opera Mini for mobile devices and Opera GX designed for the gaming community. The company integrates features such as ad blocking, built-in VPN services and a cryptocurrency wallet into its desktop and mobile applications, aiming to deliver fast, secure and feature-rich browsing experiences to hundreds of millions of users worldwide.

Beyond its consumer-facing browsers, Opera operates Opera News, a personalized content and news aggregation platform with a strong presence in Africa and Asia, and Opera Ads, a digital advertising network that leverages user-behavior data to provide targeted ad placements across devices.